CPG adds 6 percent in London

European equities markets closed lower Wednesday after news from the US Commerce Department that retail sales in the United States were lower in April, leading many to the conclusion that the economy is not prepared to recover from the recession just yet.

In London, the FTSE 100 fell 2.13 percent to 4,331.37 while the FTSE 250 was down 3.31 percent to 7,371.19.

Institutional caterer Compass Group (LSE: CPG) added 6.09 percent to lead gains on the 100, but declines were bigger and much more numerous on both the 100 and the 250.

Property developer and investor Land Securities group (LSE: LAND) had the worst day on the 100 and led the real estate sector lower as it fell 13.17 percent, accompanied by Hammerson (LSE: HMSO) with an 11.69 percent decline, also on the 100, while over on the 250 Great Portland Estates (LSE: GPOR) was 12.74 percent lower.

Miners were lower across the board, led by Xstrata (LSE: XTA) with a decline of 12.77 percent and Eurasian Natural Resources (LSE: ENRC), which dropped 11.94 percent.

Royal Bank of Scotland (LSE: RBS; NYSE: RBS PRM) led banks lower with a decline of 12.64 percent.

The worst performance of the day on the 250 came from pubs operator Enterpriese Inns (LSE: ETI), which dropped 26.41 percent on the session.

The FTSE Eurofirst 300 fell 2.4 percent to 832.16 while the CAC-40 was down 2.42 percent to 3,152.9, the Dax dropped 2.61 percent to 4,727 .61 and the IBEX was 2.9 percent lower to 9,000.6.

There were only four winners on the CAC-40, led by drug maker Sanofi-Aventis (Euronext: SAN; NYSE: SNY) with a gain of 3.36 percent, while environmental services group Veolia Environment (Euronext: VIE; NYSE: VE) was the worst performer on the Paris index with a decline of 11.05 percent.

Banks were lower in the region as Commerzbank (FWB: CBK) led losers on the Dax with a decline of 11.57 percent.

Carmakers, airlines, and insurers were also lower in Europe.

Most markets in the Asia-Pacific region were higher, but in Australia the S&P/ASX200 was down 0.54 percent to 3,856.1 and the Sydney Ordinaries fell 0.55 percent to 3,842.5 while the Hang Seng also dropped 0.55 percent, to 17,059.62 in Hong Kong and India’s Sensex was 1.14 percent lower to 12,019.65.

In Tokyo, the Nikkei 225 added 0.45 percent to 9,340.49 while the Topix index was up 0.37 percent to 888.75 and the Mothers market was 1.34 percent higher to 356.78.

The Straits Times Index was up 0.33 percent to 2,185.29, the Kospi added 0.78 percent to 1,414.52, the Taiex was 0.82 percent higher to 6,485.14 and the Shanghai Composite gained 1.74 percent to 2,663.77.

New York markets were significantly lower in early afternoon trade after the Commerce Department reported that retail sales declined unexpectedly, falling 0.4 percent in April.

Retailers were hurt by the new data as Wal-Mart (NYSE: WMT) fell 1.82 percent, JCPenney (NYSE: JCP) was down 4.19 percent and Target (NYSE: TGT) dropped 5.1 percent.

At just past 1 p.m. in New York, the Dow Jones Industrial Average was down 2.18 percent to 8,284.65 while the Nasdaq Composite was 2.61 percent lower to 1,671.22 and the S&P 500 had dropped 2.56 percent to 885.1.

Story link: CPG adds 6 percent in London